Call FREE Business Rescue Advice: 03003 038284
Expert Advice 03003 038284
To help us provide a quote, we ask for a few estimates on your current company finances.
Don’t panic if you don’t have the numbers to hand; just give us your best estimates and our team of financial experts will be able to help you gather the exact figures in due course.
Number of Creditors?
People that are owed money. 20
Amounts Owed? Estimate how much you owe these 20 creditors.
Bank overdraft / loans £500K
HMRC (PAYE, VAT, Corporation TAX, CIS) £500K
Other individuals / companies £500K
Estimated value of company assets £500K
People that are owed money
Creditors is another term for the people and organisations you currently owe money to.
These creditors may range from loan companies, to suppliers, to HMRC.
Knowing the number and type of creditors currently owed to allows us to assess an order of priority for dealing with all of your outstanding debts.
Bank overdraft / loans
We’re aware that companies in financial trouble may have one of several overdrafts and/or outstanding loan agreements they are currently in debt on.
Just give us your best estimate of the sum total of the figures that are currently outstanding specifically in these two areas.
HMRC (PAYE, VAT, Corporation TAX, CIS)
Many companies find that HMRC are one of the creditors they owe the most to, between factors such as their PAYE, Corporation Tax and VAT bills at certain times of the year.
If you can, try to add up all you outstanding HMRC payments and give us a general estimate.
Other individuals/companies
Whether you owe money to one individual or 100 companies, each of them can be classed as a creditor, so the outstanding debt needs to be taken into account.
These debts can include freelance employees with unpaid invoices, stock suppliers who haven’t been paid for items, or agencies who have outstanding bills for services rendered.
Value of company assets
Now for the good news! We always look to cover the costs of a Liquidation - and any repayments to creditors - by using company assets.
Assets could include property, stock, vehicles, equipment and outstanding invoices. We can provide a full valuation of each area, but for now, just select a rough estimate.
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